I'm reversing my short position and going long. I made a small (1.65%) profit, having surrendered most of my gains
Profit is profit. Never let anyone else tell you otherwise. It is like someone saying your airline got you to your destination 2 hours late... At least it didn't crash and burn into the ground, killing all onboard. (No, the vid below does not crash and burn. Just the point of it. It gets you to your destination.)
copper an all commodities taking hit or crash. bad economy in China,,China has no demand for copper or less since trade war. all commodities taking a hit as demand has been reduced by the world consumer of raw materials. for manufacturing ..China manufacture a lot of stuff for the global economy and domestic. copper is recylable and main demand is construction or pipes or wiring. pipes are ABS plastics now. the problem with owning commdoity is funds that rely on dividend and interest cashflow cannot invest in it.
you are suppose to trade both. okay lazy traders like machines just trade on technicals like the SQQQ..who the hell would short this market now? other than SQQQ long term short ETF these ETF short etf or SQQQ keep rolling to next contracdt futures..they short the futues not the individual stocks or their size the options are not big enough for them to short. the QQQ itself for trading pretty illiquid. comodities are illiquid too ..only a few suppliers and buyers of copper. less than 100 sellers and buyers in the global market so the 'market' for copper is small you can fit 100 people in a trading room
mr buttermarket, here's one of those. This is the Copper Futures daily chart. Relax, have a homebrew. Here's a story you're sure to like... [ https://www.investmentwatchblog.com...y-tesla-is-compared-to-the-top-10-automakers/ The WTF stock chart of the year. And another WTF chart of just how tiny Tesla is compared to the top 10 automakers. February 4, 2020 by IWB By Wolf Richter for WOLF STREET. Tesla’s shares spiked another 20% this morning, or by $160, to $940 a share. Every time I write a few words, I have to go back and change the number again, because the price just keeps shooting higher. So far this year, TSLA has shot up 120%. It could very well be that by this evening, shares are down by $300 or whatever, or that they’re at $1,100. They’re floating up high in the outer space or irrationality, and can go anywhere. So this the WTF chart of the new year with Tesla’s share price frozen at 9:51 AM Eastern Time] continued at the link above... Now, the story demonstrates in spades why i don't sink much time into fundamental analysis. "But the stock price is just nuts. But wait… just because it’s nuts doesn’t mean it cannot get even nuttier. Once something is totally irrational, there is by definition no rational limit to how much more irrational it might get." Someone once said "the market can remain irrational longer than i can remain solvent" How could i expect to find out all the juicy fresh Meaningful New Fundamental data as quickly, if ever, having to do with "fundamentals"? Why IS Tesla so valuable at this juncture? hellifiknow. but if i bothered to look i bet there are a swarm of bullish technical setups on the intraday charts of 2019. i don't trade stocks tho, so there's that, too. have a good one
what an interesting copper futures. 1 Oct, it was down with day range of 6.5%. 2 Oct, it was up with day range of 4.7%. by comparison, NQ day range was 3.5% on 2 Oct. Although copper futures moved so much, there wasn't much publicity.